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Welcome to this COMPLETELY RENOVATED Trophy property, an exceptional Oceanfront fourplex located in the highly coveted Belmont Shore neighborhood. Just steps from the sandy beach, this rare investment opportunity offers a remarkable Cap Rate of 5.82% with a NET Income of $203,600. and a Pro forma Cap of 8.35%. Situated in one of Long Beach’s most desirable areas, this property is in close proximity to Naples Island, 2nd Street shopping and dining, Alamitos Bay, the Long Beach Bike/Walking Path, and the renowned Belmont Athletic Club.This two-level fourplex comprises three 1 BD/1 BA units and one 2 BD/1 BA unit with a private sundeck, all meticulously renovated with high-end designer fixtures, finishes, and furnishings. Over $500,000 was invested into the property's renovations, which include new cabinets, countertops, waterproof flooring, designer bathroom tiles, modern light fixtures, fresh paint, and luxurious furnishings. Additional building improvements feature new electrical and plumbing upgrades, exterior landscaping, new pavers, a front gate, turf, plants, and enhanced lighting including in-ground lighting.Investment opportunities of this quality and in this exclusive pocket are rare and highly sought after. With all units currently occupied, this is a unique chance to own a piece of Belmont Shore. For additional income, consider hosting oceanfront events on the patio, adding two loft-style ADUs in each garage, constructing a third-story penthouse apartment, and creating a rooftop sundeck. Enhance the indoor-outdoor living experience by adding a balcony to the upstairs oceanfront unit.Seize this rare opportunity to invest in a luxury oceanfront property that promises both immediate returns and significant long-term value. Contact us today to schedule a viewing and explore the endless possibilities this trophy property has to offer.
Property Type(s):
Residential Income
| Last Updated | 9/24/2024 | Tract | Belmont Shore (BSD) |
|---|---|---|---|
| Year Built | 1953 | Community | Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr |
| Garage Spaces | 4.0 | County | Los Angeles |
Price History
| Prior to Aug 5, '24 | $3,649,900 |
|---|---|
| Aug 5, '24 - Sep 24, '24 | $3,549,900 |
| Sep 24, '24 - Today | $3,499,900 |
Additional Details
| AIR | None |
|---|---|
| APPLIANCES | Disposal, Dryer, ENERGY STAR Qualified Appliances, ENERGY STAR Qualified Water Heater, Exhaust Fan, Gas Cooktop, Gas Oven, Gas Range, Gas Water Heater, High Efficiency Water Heater, Ice Maker, Microwave, Portable Dishwasher, Range Hood, Refrigerator, Self Cleaning Oven, Trash Compactor, Water Heater, Water Purifier, Water To Refrigerator |
| AREA | Belmont Shore/Park,Naples,Marina Pac,Bay Hrbr |
| CONSTRUCTION | Drywall, Stucco |
| EXTERIOR | Barbecue, Rain Gutters |
| FIREPLACE | Yes |
| GARAGE | Yes |
| HEAT | Wall Furnace |
| HOA DUES | 0 |
| INTERIOR | Bar, Bedroom on Main Level, Block Walls, Ceiling Fan(s), Crown Molding, Furnished, Granite Counters, Open Floorplan, Paneling/Wainscoting, Pantry, Quartz Counters, Recessed Lighting, Storage, Wet Bar |
| LOT | 2702 sq ft |
| LOT DESCRIPTION | 2-5 Units/Acre, Drip Irrigation/Bubblers, Front Yard, Landscaped, Lawn, Paved, Sprinkler System, Sprinklers In Front, Sprinklers Timer |
| POOL DESCRIPTION | None |
| SEWER | Public Sewer |
| STORIES | 2 |
| STYLE | Contemporary, Patio Home |
| SUBDIVISION | Belmont Shore (BSD) |
| UTILITIES | Cable Connected,Natural Gas Connected,Phone Available,Sewer Connected,Water Connected, Electric: Electricity - On Property,Standard |
| VIEW | Yes |
| VIEW DESCRIPTION | Catalina,City Lights,Coastline,Ocean,Pier,Water |
| WATER | Public |
| WATERFRONT | Yes |
| WATERFRONT DESCRIPTION | Across the Road from Lake/Ocean,Beach Access,Beach Front,Ocean Access,Ocean Front |
| ZONING | LBR4R |
Location
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Listed with Keller Williams Realty
The information being provided by Conejo Simi Moorpark Association of REALTORS® (“CSMAR”) is for the visitor's personal, non-commercial use and may not be used for any purpose other than to identify prospective properties visitor may be interested in purchasing. Any information relating to a property referenced on this web site comes from the Internet Data Exchange (“IDX”) program of CSMAR. This web site may reference real estate listing(s) held by a brokerage firm other than the broker and/or agent who owns this web site. Any information relating to a property, regardless of source, including but not limited to square footages and lot sizes, is deemed reliable but not guaranteed and should be personally verified through personal inspection by and/or with the appropriate professionals. The data contained herein is copyrighted by CSMAR and is protected by all applicable copyright laws. Any dissemination of this information is in violation of copyright laws and is strictly prohibited.
This IDX solution is (c) Diverse Solutions 2024.
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